Why ATM solutions company CMS Info Systems is looking for a queen
Live MintMumbai: In September 2021, when Rajiv Kaul, vice-chairman and chief executive of CMS Info Systems, India’s largest cash management firm, met investors, he was desperate to explain that his business had potential. But in the years since Kaul’s meeting, while cash usage has not declined, the explosion in digital transactions has remained a worry for CMS’s investors. In 2008, private equity giant Blackstone partnered with the CMS Group to set up a new company, carving out IT infrastructure management, ATM cash management, and other businesses. “We believe that banks and NBFCs will look to adopt leaner models by outsourcing non-core activities, and CMS Info Systems is well-positioned to support this shift given its robust execution record, experienced leadership, scalable solutions, and pan-India presence," Elara Securities said in its 7 October note, while initiating coverage on the company.
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